1.3 Export and import of goods and services
One of the types of foreign trade activities is the export of goods, works and services. The organization of the recording of export transactions is determined by several factors: in particular, participation or non-participation in the export of intermediate organizations, the sequence of transfer of ownership of exported goods to a foreign buyer, the form of settlement with him.
Goods shipped outside the Russian Federation are processed in the "Export" customs system. The customs value of goods consists of the transaction price actually paid or payable for the goods and the cost of delivering the goods to the customs border of the Russian Federation, if these costs were not previously included in the transaction price.
Proceeds from the sale of export products are deferred when ownership of the product passes from the Russian seller to the foreign buyer. Income from the export currency is converted into roubles at the exchange rate of the Central Bank of the Russian Federation at the time of transfer of ownership from the exporter to the importer.
Until the transfer of ownership of the delivered goods from the supplier to the buyer and other conditions for the realization of turnover, the exported goods are accounted for in the account 45 "Shipped goods" at actual costs for which it makes sense to open special sub-accounts of the first and second order depending on the location of the goods. In this case, the basis for accounting is the consignment note issued at the station of departure.
The actual costs of production and goods are included in invoice 45 only in the rouble valuation and are not subject to revaluation if the rouble exchange rate against the foreign currency changes. The actual costs of the export products are composed of the production costs and the customary (overhead) costs.
Overhead costs are the costs associated with the sale of export goods (costs of packaging, packing of finished products in the warehouse, costs of loading, unloading, storage of products, transport of goods within the territory of Russia and abroad, cargo insurance and customs clearance).
The settlement of overhead costs takes place parallel to the movement of goods. At the end of the month the export overheads are debited to account 90 Distribution. In accordance with PBU 10/99 "Company expenses", the company can choose one of two variants of depreciation of business expenses in its accounting policy:
- monthly in full amount;
- monthly, all commercial expenses, with the exception of transport and packaging costs, are fully written off to 90 account.
They are written off in proportion to the goods sold.
The distribution of overheads between buyer and seller is defined in the basic terms of Incoterms deliveries. With the transfer of ownership to the goods, the goods are considered sold.
The currency receipts received on the transit account are subject to distribution in accordance with the Federal Law "On Currency Regulation and Control". Bank charges are levied for the sale of the compulsory portion of the foreign currency proceeds. These costs are charged to debtor account 91-2 "Other expenses" and are included in operating expenses (section 11 of PBU 10/99).
The company has the right to reduce the taxable income by this amount (§§ 15 para. 1 of Art. 265 of the Tax Act). Proceeds from the sale of foreign currencies are operating income and are reported in loan account 91-1 "Other income". The sale of foreign currencies is not subject to VAT (paragraphs 1, 3 of Article 39 of the Tax Act).
VAT on exports has its own special features. Pursuant to Article 164 paragraph 1 of the Tax Code of the Russian Federation, the 0% VAT rate is applied to goods sold and exported under the export customs system.
For his application, the taxable person must submit to the tax authority documents confirming the sale of products for export no later than 180 days from the date of registration of the customs declaration for export (Section 9 of Article 165 of the Tax Code). One of the most important features of the export of goods is the fact that the border of the Russian Federation has been crossed.
The complete list of these documents is contained in Article 165 of the Tax Code. These documents include:
Contract (copy of the contract) of the Russian supplier with a foreign buyer;
Account statement confirming the actual receipt of the proceeds from the foreign buyer;
Customs declaration (copy) with the marks of the Russian customs authority which released the goods in export mode;
copies of transport, shipping, customs and other documents confirming the export of goods outside the Russian Federation, etc.
All documents must be submitted together with the VAT return at 0% own tax rate. If the documents are not submitted within the specified period, the export is considered unconfirmed and the tax must be paid on the income received.
At the same time, there is an accounting - debit 91-2 "Other expenses" credit note 68 "Taxes and fees" (letter of the Ministry of Finance of the Russian Federation dated 27.05.2003 № 16-00-14/177 "On the consideration of VAT amounts in export accounting"). However, the right to a service can be restored within 3 subsequent years. If the taxpayer collects all necessary documents during this period, the money transferred to the budget can be returned.
copies of transport, shipping, customs and other documents confirming the export of goods outside the Russian Federation, etc.
All documents must be submitted together with the VAT return at 0% own tax rate. If the documents are not submitted within the specified period, the export is considered unconfirmed and the tax must be paid on the income received.
At the same time, there is an accounting - debit 91-2 "Other expenses" credit note 68 "Taxes and fees" (letter of the Ministry of Finance of the Russian Federation dated 27.05.2003 № 16-00-14/177 "On the consideration of VAT amounts in export accounting"). However, the right to a service can be restored within 3 subsequent years. If the taxpayer collects all necessary documents during this period, the money transferred to the budget can be returned.